The impact of the oil price uptick on bad debts and problem loans
Laura Hamilton, of Norton Rose Fulbright, discusses the ongoing impact of the oil price on the shipping sector
It makes a pleasant change to open an article about the oil price on a positive note. In recent weeks, since OPEC announced
its first planned output cut in eight years, oil prices have crept back up to just above US$50 per barrel. This increase has
led to some analysts broadcasting positive sentiments about future trading, with some believing that there is potential for
an upwards break towards $60 per barrel within the next year. This is quite a different story to earlier this year, when the
oil price had tumbled down to around $30 per barrel: the outlook was far from positive and most reports painted a gloomy picture.
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